Paytm Money to get first time investors from Indian small towns into mutual funds; industry cheers
Posted on 15th September 2018 |
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Paytm’s investment platform Paytm Money will likely help small town people get on board the mutual fund bandwagon, and further boost inflows for the asset management industry already flourishing due to shifting habits towards financialisation of savings. Paytm Money is looking to garner huge traction from the hinterlands by making it easier to invest, where mutual fund penetration is currently low, say experts. |
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Paytm's losses rise by almost 80% on the back of massive expansion plans
Posted on 12th September 2018 |
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One97 Communications, which owns fintech major Paytm, had an almost 80 per cent increase in its losses during 2017-18, amounting to Rs 16 billion. This was on the back of massive expansion plans for its payments bank, online marketplace Paytm Mall and a new mutual fund (MF) business, Paytm Money, according to the company’s annual report. |
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On Teacher’s Day, Paytm’s Vijay Shekhar Sharma heaps praises on HDFC Bank’s Aditya Puri; here’s what he said
Posted on 5th September 2018 |
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Heaping praises on HDFC Bank CEO, Paytm’s Vijay Shekhar Sharma said that he hoped to acquire just 10% of Aditya Puri’s cast banking knowledge. “I think HDFC is the defining bank of this country. No other bank has lead the space for so many decades. Mr Puri is the most jovial banker I know, talking to him is like learning life lessons beyond financial lessons. I wish I learn just 10% of banking from him, as much he knows,” Vijay Shekhar Sharma told in an interview to ET Now. |
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Paytm sealed the Warren Buffett deal with 1 meeting, 2 phone calls
Posted on 29th August 2018 |
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New Delhi: In the first week of February Paytm’s founder and chief executive officer Vijay Shekhar Sharma met board member Mark Schwartz in Canada. Schwartz, who’s also on the board of SoftBank Group Corp., had a proposal for him. Schwartz wanted to introduce Sharma to the world’s most renowned investor, Warren Buffett’s Berkshire Hathaway Inc. |
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Berkshire Hathaway takes stake in Paytm
Posted on 28th August 2018 |
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Mumbai: Berkshire Hathaway Inc has picked up a 25 billion rupees (USD 356 million) stake in the parent of digital payments firm Paytm, a source said, its first investment in an Indian startup as it forays into the financial payments sector. The conglomerate run by billionaire Warren Buffett confirmed in an email that Berkshire had invested in One97 Communications Ltd. |
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Paytm Payments Bank is still not allowed to add new customers, says CEO
Posted on 25th August 2018 |
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Paytm Payments Bank is still not allowed to add new customers and there is uncertainty over when this restriction would be lifted, said Paytm founder and Chief Executive Officer Vijay Shekhar Sharma. At a mutual fund summit on Thursday, Sharma said he had a meeting with Reserve Bank of India (RBI) officials on the issue earlier during the day, but refrained from divulging details of the meeting. |
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Paytm launches its own AI cloud for India
Posted on 21st August 2018 |
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Bengaluru: One97 Communications, the parent entity of Paytm has announced the launch of its AI Cloud computing platform “Paytm AI Cloud for India” for developers, startups and enterprises. The platform is mainly aimed at offering business-centric apps for organizations that need high-quality solutions for cloud computing, automate their workflow, easy payments, messaging and customer engagement without the hassle of managing hardware and software. |
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Paytm Mall aims to generate $10 bn in annualised gross sales by March 2019
Posted on 16th August 2018 |
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With an aim to expand its share in India’s growing online retail market, Paytm Mall targets a three-fold increase in its annualised gross sales, taking it up to $10 bn-mark by March 2019. Owned by Paytm E-commerce Pvt Ltd., Paytm Mall has ramped-up its efforts to expand the business. |
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Debit cards: Paytm rules the roost in the virtual world but lags in real life
Posted on 14th August 2018 |
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Given how every depositor gets a digital debit card, Paytm Payments Bank has in less than a year of its launch notched up a large outstanding debit card user base. Reserve Bank of India (RBI) data show the mobile wallet-to-payments bank entity had 39.12 million outstanding debit cards at the end of May. |
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